Paragraph 7 I1C1
England and Wales
A transaction is not a higher rates residential property transaction under paragraph 3 if the main subject-matter of the transaction is a major interest in a dwelling—
in which, immediately before the effective date of the transaction, the buyer F1or the buyer’s spouse or civil partner had another major interest, and
which, immediately before and after the effective date of the transaction, is the buyer's only or main residence.
Annotations
Textual amendments
- F1
Words in Sch. 5 para. 7(a) inserted (1.4.2018) by The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (Amendment to Schedule 5) Regulations 2018 (S.I. 2018/125), regs. 1(2), 2(a)
Modifications
- C1
Sch. 5 applied (with modifications) (1.4.2018) by The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018 (S.I. 2018/126), regs. 1(2), 12
Commencement
- I1
Sch. 5 para. 7 in force at 1.4.2018 by S.I. 2018/34, art. 3